Stock is the abbreviation of share certificate, which is a kind of securities issued by a joint-stock company to shareholders as a holding certificate to raise funds and obtain dividends and bonuses. Each share represents the shareholder's ownership of the basic unit of the enterprise. Every stock in the same category represents the equal ownership of the company. The share of ownership of the company owned by each shareholder depends on the proportion of shares held by each shareholder to the total share capital of the company. Shares are part of the capital of a joint-stock company and can be transferred, traded or mortgaged at a fixed price. It is the main long-term credit tool in the capital market, but the company cannot be required to return its capital contribution.
China Merchants Securities is a financial enterprise under China Merchants for a century. After 23 years of development, all businesses and comprehensive strength have entered the top ten in China. China Merchants Securities is the first member of China Stock Exchange, the first approved comprehensive brokerage firm, the first lead underwriter, the first member of the national interbank lending market and the first brokerage firm with self-management, online trading and asset management business qualifications. In July, 2008, the company was rated as A AA-level brokerage by China Securities Regulatory Commission.